Slide 1: Company presentation April 2026
Company presentation April 2026
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product developments and regulatory approvals and financial performance. Camurus is providing the following cautionary statement. Such forward-look
Slide 3: Camurus at a glance
Camurus at a glance Rapidly growing Unique FluidCrystal® commercial stage company technology platform • Established in Europe and Australia • Commercially validated – expanding to the US • License agreement with Eli Lilly • Leader in opioid dependence treatment for long-acting incretins Advancing la
Slide 4: Revenue growth and high profitability
Revenue growth and high profitability •Revenues •Profit before tax MSEK MSEK 2 500 1 000 933 2265 2 000 1868 800 Financial 2026 outlook* 1717 600 553 Revenue 549 1 500 SEK 2.6 – 2.9 billion 400 Midpoint + 21% vs. 2025 1 000 956 200 Operating results 601 73 500 SEK 0.9 – 1.2 billion 0 Midpoint + 20%
Slide 5: Significant recent progress
Significant recent progress Commercial Advancing Corporate execution R&D pipeline development • Global leadership in long-acting • Oczyesa approved in the EU and UK • Solid financial performance and high treatment of opioid dependence for the treatment of acromegaly profitability • Continued progres
Slide 6: Creating sustainable impact
Creating sustainable impact ESG rating results: •Advancing innovation and access to medicines Score 19.7 ‒ Camurus’ commitment to improving the lives of patients with Low risk severe and chronic diseases has a clear positive sustainability impact by Morningstar Sustainalytics •Creating value while m
Slide 7: FluidCrystal long-acting release technology
FluidCrystal® long-acting release technology Easy and convenient administration Applicable across substance classes Rapid onset & long-acting release Compatible with prefilled syringes, auto- injector pens, and other advanced devices Controlled by composition, liquid crystal phase structure and biod
Slide 8: Commercial portfolio
Commercial portfolio
Slide 9: Buvidal – game changing opioid dependence treatment
9 Buvidal – game changing opioid dependence treatment • Weekly and monthly, subcutaneous buprenorphine for individualized treatment of opioid dependence within a framework of medical, social and psychological treatment in adults and adolescents 16 years or over1. Based on the FluidCrystal technology
Slide 10: Buvidal has demonstrated significant benefits to patients and society
Buvidal has demonstrated significant benefits to patients and society Superior treatment outcome and patient satisfaction1-4 Blocks subjective opioid effects from first dose2 Reduces treatment burden and improve quality of life4,5 Decrease risk of diversion, misuse and pediatric exposure6,7 Provides
Slide 11: Global leadership in long-acting opioid dependence treatment
Global leadership in long-acting opioid dependence treatment Buvidal sales by year MSEK 1 752 1 654 1 500 •Wide and growing access to Buvidal and Brixadi 1 299 ‒ Available across four continents 1 000 936 ‒ Large opportunity and high medical need 594 500 323 •Solid growth of Buvidal in Europe and Au
Slide 12: Significant growth opportunity for Buvidal in larger European countries
Significant growth opportunity for Buvidal in larger European countries •High access markets ‒ Australia, Nordics, Scotland and Wales • Average patient share 35% of total 100,000 treated patients • Continued double-digit growth expected in 2026 High access markets •High potential, limited access mar
Slide 13: Focus on high-potential, limited access markets
Focus on high-potential, limited access markets •Policy affair programs gaining wide stakeholder support •UK •Germany ‒ Recent reports supporting ‒ Change in remuneration increased uptake of LAIB system proposed ‒ Demand increasing for ‒ Growing support for LAIB expanded access access ‒ Wide stakeho
Slide 14: Oczyesa – the first monthly subcutaneous octreotide
14 Oczyesa – the first monthly subcutaneous octreotide • A novel self-administered long-acting octreotide subcutaneous autoinjector for the maintenance treatment of acromegaly1. Based on the FluidCrystal technology. 1 SmPC Oczyesa 14
Slide 15: Oczyesa - launching the first monthly subcutaneous octreotide depot
Oczyesa - launching the first monthly subcutaneous octreotide depot1-3 Autoinjector pen Oczyesa is indicated for maintenance treatment in adult patients with acromegaly who have responded to and tolerated treatment with somatostatin analogues.1 5-fold bioavailability vs octreotide Convenient and eas
Slide 16: Positive start of the Oczyesa launch in Germany
Positive start of the Oczyesa launch in Germany •Launch in Germany started in November 2025 Oczyesa wave 1 countries ‒ Promising initial response from patients and HCPs • Product profile resonates with patients and physicians • Specialist sales team out in the market ‒ More than 20 patients in treat
Slide 17: Gearing up for Oclaiz US launch mid-2026
Gearing up for Oclaiz US launch mid-2026 •Camurus’ US team launch ready ‒ Core team has focused on • Market research and planning • Brand development • Go-to-market strategy • Market access and pricing • Advocacy and engagement • Distribution US LAUNCH • Execute sales marketing plan • PDUFA date 10
Slide 18: R&D pipeline
R&D pipeline
Slide 19: Broad and diversified R&D pipeline
Broad and diversified R&D pipeline R&D pipeline programs Preclinical Phase 1 Phase 2 Phase 3 Registration Market CAM2029 Acromegaly US CAM2029 GEP-NET1 CAM2029 Polycystic liver disease CAM2038 Chronic pain2 CAM4072 Genetic obesity diseases3 CAM2043 Raynaud’s phenomenon CAM4071 Endocrine disorders CN
Slide 20: Octreotide SC depot, CAM2029
Octreotide SC depot, CAM2029 CAM2029 is a long-acting octreotide in development for three serious rare disease indications Acromegaly Gastroenteropancreatic neuroendocrine tumors (GEP-NET) Polycystic liver disease (PLD) Designed for enhanced efficacy and patient convenience vs. current somatostatin
Slide 21: CAM2029 designed to address key limitations of current first-generation SRLs
CAM2029 designed to address key limitations of current first-generation SRLs Ready-to-use FluidCrystal technology Rapid onset and long-acting octreotide release1 5-fold octreotide bioavailability vs Sandostatin LAR with potential for improved efficacy1-3 State-of-the-art, pre-filled autoinjector pen
Slide 22: CAM2029 provides high SRL exposure
CAM2029 provides high SRL exposure ~5x higher octreotide plasma exposure for CAM2029 vs. Sandostatin LAR ‒ CAM2029 octreotide plasma levels in the range of immediate release octreotide 100 Steady state pharmacokinetic profiles CAM2029 20mg q4w (PK model) Octreotide concentration (ng/mL) Sandostatin
Slide 23: Comprehensive CAM2029 clinical program
Comprehensive CAM2029 clinical program Positive results 5 completed Positive results Positive results Phase 1 and 2 Open label extension clinical trials characterizing PK, PD and Fully recruited safety in Open label extension healthy subjects and Fully recruited Positive results patients Open label
Slide 24: SORENTO Phase 3 study of CAM2029 in GEP-NET progressing
SORENTO Phase 3 study of CAM2029 in GEP-NET progressing •Randomized, active-controlled Phase 3 study •Primary endpoint ‒ Randomized, multi-center, open-label, active-controlled ‒ Superiority in progression free survival, PFS, vs. standard of Phase 3 study of CAM2029 vs. long-acting octreotide or car
Slide 25: CAM2029 recent and upcoming development milestones
CAM2029 recent and upcoming development milestones Pivotal randomized placebo controlled Subcutaneous Octreotide Randomized Polycystic liver Safety and efficacy and long-term safety trials in acromegaly Efficacy in Neuroendocrine TumOrs TriAl with subcutaneous Octreotide ACROINNOVA Phase 3 program S
Slide 26: CAM2029 — Differentiated therapy, large market potential
CAM2029 — Differentiated therapy, large market potential Acromegaly — Est. peak sales* GEP-NET — Est. peak sales* $180 – 280 million $1.5 – 2+ billion Shared benefits Acromegaly GEP-NET ● ~5X bioavailability vs. octreotide LAR ● EU and UK approved (Oczyesa®) ● Largest SRL trial in NET (SORENTO, n=33
Slide 27: Early-stage programs
Early-stage programs Several early-stage programs advancing Completed treatment in Phase 1b study of monthly semaglutide (CAM2056) Positive topline results announced Partnership with Eli Lilly for long-acting incretins progressing 27
Slide 28: Phase 1b study of once-monthly semaglutide
Phase 1b study of once-monthly semaglutide •Randomized Phase 1b study comparing CAM2056 with once-weekly semaglutide (Wegovy®) ‒ Assessing pharmacokinetics, pharmacodynamics and safety in 80 participants with overweight or obesity Study design Part A n=16 0.25mg 0.5mg 1.0mg 1.7mg 2.4mg Wegovy Group
Slide 29: Positive top-line results from Phase 1b study of CAM2056
Positive top-line results from Phase 1b study of CAM2056 •Faster and greater reduction of body weight, A1c and fasting glucose CAM2056 produced superior dose-dependent PD response • Weight change from baseline to Day 85 was -9.3% for CAM2056 10 mg versus -5.2% for weekly semaglutide per label; tre
Slide 30: Greater reductions in body weight and blood glucose levels with CAM2056
Greater reductions in body weight and blood glucose levels with CAM2056 Weight reduction A1c reduction Day 29 Day 57 Day 85 Day 29 Day 57 Day 85 0 0,2 HbA1c change from baseline (%) Body weight change from baseline (%) -1,6 0,03 0,01 -2,7 0 -5 -0,10 -0,12 -5,3 -5,2 -0,2 -8,0 -0,4 -0,38 -9,3 -10 -0,4
Slide 31: Next steps – CAM2056
Next steps – CAM2056 •Preparation for Phase 2b study 2026, including ‒ Dose initiation and escalation schedule established in Phase 1b study ‒ Extended treatment exposure to establish long term safety ‒ FDA advisory meeting ‒ Expected study start H2 2026 •Parallel preparations for Phase 3 ‒ Progress
Slide 32: License agreement with Eli Lilly on long-acting incretins
License agreement with Eli Lilly on long-acting incretins •Partnership focused on long-acting therapies based on FluidCrystal and Lilly’s proprietary drug compounds ‒ Lilly obtained license to research, develop, manufacture and commercialize long- acting incretin products based on FluidCrystal ‒ Inc
Slide 33: Strategic priorities in 2026
Strategic priorities in 2026
Slide 34: Clear path to sustainable value creation
Clear path to sustainable value creation Commercial execution Pipeline with Partnerships and M&A excellence blockbuster potential opportunities • Strengthen market leadership • Securing US approval of Oclaiz • Progressing partnerships with in opioid dependence treatment • SORENTO read-out in GEP-NET
Slide 35: Camurus AB contact details
Camurus AB│Rydbergs torg 4, SE-224 84 Lund, Sweden P +46 46 286 57 30│info@camurus.com│camurus.com
Slide 36: Shareholders and analyst coverage
Shareholders and analyst coverage Shareholders as of 31 March 2026 Number of shares % of capital % of votes Sandberg Development AB 18,280,692 30.5 30.5 Analysts Fourth Swedish National Pension Fund 2,929,277 4.9 4.9 DNB Carnegie Swedbank Robur Fonder 1,967,222 3.3 3.3 Erik Hultgård Handelsbanken Va
Slide 37: Key expected milestones in 2026
Key expected milestones in 2026 Brixadi/Buvidal market penetration in opioid use disorder Launches of Oczyesa in key European markets Approval and launch of Oclaiz in the US SORENTO Phase 3 readout for CAM2029 in GEP-NET Start of Phase 2b study of CAM2056 in obesity/overweight Progress in developmen
Slide 38: Highlight of German opportunity in acromegaly
Highlight of German opportunity in acromegaly ~2,000 target patients in Germany1-5 Market potential in Germany ‒ SRL acromegaly annual sales ~EUR 50 million6 • Prevalence Incidence ~5,000 – 10,000 ~270 – 330/year German physician’s positive to Oczyesa profile Acromegaly register Not in register “It
Slide 39: Positive results from ACROINNOVA 1
Positive results from ACROINNOVA 1 – CAM2029 provided robust biochemical control •ACROINNOVA 1 study design •Superiority achieved •CAM2029 improved ‒ 24-week, randomized, double blind, ‒ 77.2% vs. 37.5% patients with ‒ Treatment convenience placebo-controlled Phase 3 study IGF-1 ≤1 ULN with CAM2029
Slide 40: Positive topline results from ACROINNOVA 2
Positive topline results from ACROINNOVA 2 •ACROINNOVA 2 study design •Improved acromegaly •ACROINNOVA 2 results ‒ 52-week, open-label safety study symptoms with CAM2029 ‒ Reinforcing long-term safety and with further extension effectiveness in ACROINNOVA 1 •Patient population 1 ‒ Increased response
Slide 41: POSITANO met the primary endpoint in double-blind randomized part
POSITANO met the primary endpoint in double-blind randomized part •POSITANO study design •Primary endpoint met •CAM2029 improvements of: ‒ 53-week randomized, placebo- ‒ 4.3% reduction in height- ‒ PLD symptoms (PLD-S score vs controlled, three-arm study adjusted total liver volume vs baseline) ‒ Op